Rally for major bank stocks leads Australian shares higher | Finance Report

Surging bank stocks boosted the Australian share market, following similar moves on Wall Street overnight, but the benchmark index closed off the highs of the session. Read more here: https://www.abc.net.au/news/2020-05-28/big-banks-rally-leading-gains-on-asx-insurances-claims-top-$5b/12294786?section=business For more from ABC News, click here: https://ab.co/2kxYCZY You can watch more ABC News content on iview: https://ab.co/2OB7Mk1 Subscribe to us on YouTube: http://ab.co/1svxLVE Go … Read more Rally for major bank stocks leads Australian shares higher | Finance Report

Banks prop up Australian market as residential construction tumbles | Finance Report

Australian shares have closed lower, with sharp falls for healthcare and mining stocks, as investors piled into the big four banks. Meanwhile, residential construction has dipped since the start of COVID-19, with the Government considering housing grants to prop up the industry. Read more here: https://www.abc.net.au/news/2020-05-27/mining-and-health-care-drag-asx-down-despite-bank-surge/12289752?section=business For more from ABC News, click here: https://ab.co/2kxYCZY You … Read more Banks prop up Australian market as residential construction tumbles | Finance Report

Australian shares jump to 11-week high as investors hope for COVID-19 recovery | Finance Report

The Australian share market jumped to a fresh 11-week high, as investors continue to be fairly optimistic about the economic recovery from coronavirus. Consumer sentiment has rebounded, though it remains below the long-term average, and tourism stocks have seen a bump after the Treasurer signalled there could be more government assistance. Read more here: https://www.abc.net.au/news/2020-05-26/asx-11-week-high-covid19-coroanvirus-economic-recovery/12285702?section=business … Read more Australian shares jump to 11-week high as investors hope for COVID-19 recovery | Finance Report

Local sharemarket continues rise on hope for Moderna’s COVID-19 vaccine | Finance Report

The ASX jumped today as investors bet on a coronavirus vaccine coming sooner rather than later, particularly after a US drug maker said its early trials showed “promising” results. Read more here: https://www.abc.net.au/news/2020-05-19/dow-jones-surges-912-points-coronavirus-covid19-vaccine/12261700?section=business For more from ABC News, click here: https://ab.co/2kxYCZY You can watch more ABC News content on iview: https://ab.co/2OB7Mk1 Subscribe to us on … Read more Local sharemarket continues rise on hope for Moderna’s COVID-19 vaccine | Finance Report

ASX rallies on Wall St bounce, energy stocks lead the way on oil supply cuts | ABC News

The Australian share market rallied after gains on Wall Street that were fuelled by a surprise Saudi oil-production cut and a steep rise in crude prices. Read more here: https://www.abc.net.au/news/2020-05-15/asx-rallies-on-wall-st-bounce-back/12251760?section=business For more from ABC News, click here: https://ab.co/2kxYCZY You can watch more ABC News content on iview: https://ab.co/2OB7Mk1 Subscribe to us on YouTube: http://ab.co/1svxLVE Go … Read more ASX rallies on Wall St bounce, energy stocks lead the way on oil supply cuts | ABC News

Consumer confidence rebounds record amount in April | Finance Report

The ASX 200 dropped 1.9 per cent early, but steadily regained it’s losses throughout the day to finish 0.4 per cent higher. Consumer sentiment lifted a record amount for April, but there are still more pessimists than optimists out there. Read more here: https://www.abc.net.au/news/2020-05-13/asx-drop-wall-street-dow-jones-coronavirus-covid19-second-wave/12241186?section=business For more from ABC News, click here: https://ab.co/2kxYCZY You can watch … Read more Consumer confidence rebounds record amount in April | Finance Report

Local markets sag on back of China trade and fears of ‘second wave’ | Finance Report

Australian shares have fallen sharply after a jump in COVID-19 cases in South Korea and Germany rattled investors and led to a mixed performance across global markets. The dollar also dipped after China announced it was suspending beef imports from four Australian abattoirs Read more here: https://www.abc.net.au/news/2020-05-12/wall-street-nasdaq-asx-fall-rising-coronavirus-covid19-cases/12237164?section=business For more from ABC News, click here: https://ab.co/2kxYCZY … Read more Local markets sag on back of China trade and fears of ‘second wave’ | Finance Report

Australian sharemarket makes gains on economic restart optimism | Finance Report

The ASX ended the week with a strong gain, as investors were buoyed by plans to re-open the economy. Meanwhile, a new estimate puts this year’s budget deficit at $143 billion. For more from ABC News, click here: https://ab.co/2kxYCZY You can watch more ABC News content on iview: https://ab.co/2OB7Mk1 Subscribe to us on YouTube: http://ab.co/1svxLVE … Read more Australian sharemarket makes gains on economic restart optimism | Finance Report

ASX rises despite banks deferring $6.8 billion in loan repayments | Finance Report

Here’s why the property market isn’t collapsing: 307,000 people have been let off their mortgage repayments so they don’t have to sell the house having lost their job. The total amount of repayments the banks have foregone, including business loans and credit cards is 6.8 billion dollars. Read more here: https://www.abc.net.au/news/2020-05-04/asx-rise-afterpay-surges-on-tencent-investment/12211496?section=business For more from ABC … Read more ASX rises despite banks deferring $6.8 billion in loan repayments | Finance Report

US and Australia markets plunge, wiping off a week of gains | Finance Report

The Australian share market has wiped out a week’s worth of gains, ending sharply lower following a broad-based sell-off on Wall Street overnight. The ASX 200 closed down by 5 per cent or 276 points at 5,245 points, just a few points above where it closed last Friday, despite posting three strong sessions this week. … Read more US and Australia markets plunge, wiping off a week of gains | Finance Report

Westpac sets aside $3.6b for coronavirus debt and AUSTRAC fine | Finance Report

Australia’s second-largest bank Westpac says its upcoming results will suffer a massive hit due to COVID-19, on another volatile day for the ASX. Read more here: https://www.abc.net.au/news/2020-04-28/dow-jones-wall-street-surge-hope-coronavirus-covid19-asx/12191872?section=business For more from ABC News, click here: https://ab.co/2kxYCZY You can watch more ABC News content on iview: https://ab.co/2OB7Mk1 Subscribe to us on YouTube: http://ab.co/1svxLVE Go deeper on our … Read more Westpac sets aside $3.6b for coronavirus debt and AUSTRAC fine | Finance Report

Banking sector records falls as NAB announces dive in shareholder payouts | Finance Report

Most bank shares were dragged down with National Australia Bank’s announcement, but the share market finished 1.5 per cent higher after reasonable gains in New York and Asian markets. Read more here: National Australia Banks records fall in profits: https://www.abc.net.au/news/2020-04-27/nab-goes-to-share-market-for-more-than-3-billion/12188112 ASX rises despite banking sector falls: https://www.abc.net.au/news/2020-04-27/asx-rises-weighed-down-big-four-banks/12188254 For more from ABC News, click here: https://ab.co/2kxYCZY … Read more Banking sector records falls as NAB announces dive in shareholder payouts | Finance Report

Australian sharemarket flat, retail sales surge and oil price moves back above zero | ABC News

ASX closed flat after retail sales surged and the West Texas crude price moved back above zero. The country saw the biggest monthly rise in retail sales on the Australian Bureau of Statistics’ records, surging 8.2 percent in March, seasonally-adjusted. Read more here: https://www.abc.net.au/news/2020-04-22/retail-sales-surge-in-march-toilet-paper-rise-pasta-sales-double/12172606 For more from ABC News, click here: https://ab.co/2kxYCZY You can watch … Read more Australian sharemarket flat, retail sales surge and oil price moves back above zero | ABC News

Virgin Australia collapse: Deloitte says ‘there are no plans to make redundancies’ | ABC News

Press conference with Virgin CEO Paul Scurrah, and Vaughan Strawbridge from Deloitte. Virgin Australia has entered voluntary administration, leaving the jobs of at least 15,000 airline workers and connected supply chain workers under a cloud. In a statement to the ASX, the airline said the move would help “recapitalise the business” and ensure it emerged … Read more Virgin Australia collapse: Deloitte says ‘there are no plans to make redundancies’ | ABC News

Virgin Australia forced into voluntary administration | ABC News

Virgin Australia has entered voluntary administration. In a statement to the ASX, the airline said the move would help “recapitalise the business” and ensure it emerged “in a stronger financial position on the other side of the COVID-19 crisis”. The board of directors has appointed Deloitte’s Vaughan Strawbridge, John Greig, Sal Algeri and Richard Hughes … Read more Virgin Australia forced into voluntary administration | ABC News